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Friday, 03 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 26:
When a worker earns more than the wage just sufficient to keep him in his job, the excess income is called?
  • A An opportunity cost
  • B An economic rent
  • C Transfer earnings
  • D Surplus value
View Answer & Explanation
Question 27:
National income at factor cost means national income at?
  • A Current prices
  • B Nominal prices
  • C Last year prices
  • D Base year prices
View Answer & Explanation
Question 28:
The value of the multiplier depends on?
  • A MPC and level of income
  • B Level of personal income
  • C Level of personal savings
  • D Government policy and MPC
View Answer & Explanation
Question 29:
One of the major problems of product distribution in most developing countries is?
  • A Lack of storage facilities
  • B Large number of middlemen
  • C Inadequate manpower
  • D Inadequate means of transportation
View Answer & Explanation
Question 30:
Non-bank financial intermediaries do not?
  • A Provide credit facilities
  • B Accept deposits
  • C Accept demand deposits
  • D Sell shares
View Answer & Explanation